Regulatory Alerts2003-12-24
COBAC Regulation R-2003/05 Amending COBAC Regulation R-98/03 on the Accounting and Provisioning of Doubtful Claims and Signed Commitments
The Central African Banking Commission (COBAC) amends its regulatory framework by inserting a clarifying paragraph into Article 8 of Regulation R-2001/03 to specify that accounting entries for doubtful claims and signed commitments reflect an accounting classification without creating legal novation. This amendment ensures consistent application of the R-98/03 accounting and provisioning rules across credit institutions. The Secretary General is tasked with implementation, and the regulation enters into force immediately upon its signature on 14 November 2003.
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